Tag: #decision

Here’s an update of our profitable trade today on GbpUsd. We saw a potential opportunity on this pair as it was trading closely on the 30 mins resistance. We are not only posting to show our profits but to remind all traders that trading needs discipline and only with proper trading plan will you be able to grow the account consistently.

We know that SL(Stop Loss) and TP (Take Profit) is there to help us in our discipline but one thing many traders miss out is Max Entry. Max Entry is crucial so that traders do not enter into a trade blindly chasing the running trade. This also helps to ensure that your trades reward is worth the risk.

In this group, we will be answering questions, doubts and also strategies that losing traders have been wondering. We share our views, trade ideas (with specific entry, SL, and targets) and thoughts and hope to make everyone as profitable as us. Remember trading is a journey not a get rich quick scheme. Join us here https://www.facebook.com/groups/tradesandprofits/ to see what you are missing out there.

We ain’t perfect. See how we take so many losses yet profitable for the month. If you also notice we have a handful of trades. Why? Because we want to be profitable not because we want to enter many trades to satisfy our urge.

It’s been a hot talking point about cryptocurrencies, we have many readers and followers enquiring about Coins.

Technically, the basis of crypto movements are the similar to any other counters be it Stocks, Indices,Forex or even commodities. At this point we are not very comfortable trading on crypto as it is not globally accepted yet. As we are trading on leverage, trading on crypto may have a greater risk exposure on our portfolio.

However we still do see some potential opportunities on Coins which we will share our ideas in our FB group https://www.facebook.com/groups/tradesandprofits/. If we look at the charts above, the movement for both BtcUsd and LtcUsd are identical.

On the 4H, we see a downtrend support movement with both trend and vertical resistance confluencing each other. We can also see that the resistance level tested several times with previous acting as a support. This makes a sensible choice for a trader to take a short position with a calculated stop loss (Please always note on the price actions before taking any positions as it may not be suitable if price movement is going against our analysis).

On a longer TF, Daily Chart, it is somewhat the opposite of what the 4hour is showing. Ideally, if the price on 4H moves as we analyse, it may be a good level to load some coins for longer term(not leverage and small amount just to diversify portfolio).

For more analysis, 1st hand trade ideas and educational discussion, click on this link and join our Free FB group
https://www.facebook.com/groups/tradesandprofits/

You may also want to follow us on IG to get some updates.
https://www.instagram.com/tradesnprofits/

Time has not permit us to post our recent trades, As much as we can we will try to provide as much trade analysis and post on out website. Meanwhile, for today, check this potential set up that looks decent!

Counter : UsdJpy

Direction : Short

Technical Description : Sideways on daily, Price rejection as seen on picture above with a slight downward trend as a base.

Reward : > 1:2

What price do we enter? Join our FB group https://www.facebook.com/groups/tradesandprofits/ as we discuss more potential trades and also providing a learning curve for traders.

Today we are going to discuss on how we use our stop loss to make our trade a much more profitable one.

The picture above is a trade we took back in June and achieved a 600% return. We managed to squeeze another 400% from our usual 200% with 0 risk.

Read on and we will explain how we do that…

First as a trader, we have to accept that every trade we enter comes with a risk and there is no 2 way about this. When we first took this trade, we had our stop loss set about 65 pips away(base on our strategy). Refer to the picture on our Entry(Blue) and SL(Red) set.

As the price was trading and hovering around we remained our SL level till we managed to reach 200% (labeled 200% in white). At this point we shifted our SL slightly above our entry which is represented in (orange). Reason for us not shifting even at 150% is because we want to allow the trade to go beyond the range to have an extra edge over this trade. (Look somewhere near the orange arrow, if we shifted it before reaching 200% we would have been stopped out.)

Once the trade achieve 200% the trader has a choice to take full profit too!

As the trade continues moving up, we than started shifting our SL after every 100% . Now even if the trade hits our SL we will still end up with a positive balance. Since the trade is in your control, you have a choice for partial profit.

Lesson here is that SL does not exist just for a losing trade, if use correctly, it can help you achieve greater returns than you ever expected.

Whatever decision you make in your trading just remember to ask yourself if you can accept the outcome.

Example :
What will I do if I shift my SL too early and hit it before taking full profit?
What will I do if I miss more profits?
What will I do if I don’t take full profit?
the list can go on.

What ever your question, your answer shouldn’t be something that will make you regret as it will affect your psychology. Do something that you personally will be able to accept and have a peaceful sleep.

Every action done are reflected in your trading result. So start asking if what you are doing is right?

Hope that you can start using SL the way we use it!

Want to learn and find out more? Join our Facebook group to get our trading ideas as we hope to reach out to as many traders as possible.

A post shared by Trades&Profits (@tradesnprofits) on Jun 14, 2017 at 2:59am PDT

While we are in process of fixing our Facebook. Our trade on AudJpy has managed to reach our 200% target profit level. This trade has achieved a result that would have covered our previous loss on UsdCad.

This trade was actually posted in our FB close group.

About our Facebook issue, due to some terms and policy that Facebook(Facebook doesn’t allow users to use nick name) has, hence we may not be able to safe the existing group. We will be looking to start a new group soon to continue giving traders our insights and trade ideas.

Keep a look out here on our website on the progress of setting up a new group.

On a side note, for traders that have entered their trades on FACEBOOK it self, congrats as it has traded from 145 level to 151 level. Decent profits on that trade.
https://tradesnprofits.com/2017/06/12/facebook-for-investment/ check out this link for reference.

About a week ago a member in one of the stock trading group was asking about FACEBOOK for her long term portfolio. We analyse it using our strategy to see if there was any potential to get in at a better price.

Though we are not inclined to long term investing, we still managed to pick up some good levels for long term investor who are keen to add more position to their existing portfolio (At least they didn’t get it at a higher price haha).

With the current bull run on the stock market, people are getting excited and are adding positions blindly to their portfolio. We would like to remind traders/investors to take a step back and re-look at their portfolio. It is times like this that many traders are losing their money as they rush to get into any trades just to ride the trend.

Talking about getting into trades, we have spotted an opportunity to long USDCAD. We will be updating our website later today on the technical description of USDCAD.
Meantime, you may want to join our Facebook group to see our USDCAD trade set up.
https://www.facebook.com/groups/tradesnprofits/

If you like what we have shared, do also like/follow our FB page and Instagram.
https://www.facebook.com/groups/tradesandprofits/
https://www.instagram.com/tradesnprofits/

People always ask me which is the best time frame to use on charts for traders.

Well there is no specific rule to this. If I were to simply reply to this question, i will just say it depends on individual character.

As a Trader, you must understand how much time you have and willing to burn. Identifying your personality and time spent is very crucial to getting consistent result.

Look at it this way, if i have only 10 mins to focus but my strategy requires 20 mins, how is it possible that I will be able to put my 100% on it. In trading, when I fail to give 100%, mistakes are bound to happen and thus reflecting in an inaccurate result(Possibly burning the account unnecessarily).

How I can help is basically giving a rough estimation on how much time is needed for the different time frames.

Weekly TF

Minimal effort required and suitable for those working long hours/shifts, parents with young kids, people who are not familiar with usage of computer typically the older generations.

Maximum Holding Period : 1 – 2 months

Time required : 30 – 60 Mins per week

Daily TF

Suitable for everyone who wants to trade at least twice a week. Analysis can be done on weekend.

Maximum Holding Period : 1 – 2 weeks

Time required : 1 – 2 hrs per week

4 Hour TF

For those who have access to charts almost every 8 – 12 hours. This are for people who can afford to have spare time during working hours. Needs to be fast in terms of calculation. Recommended only for those who are able to calculate accurately mentally.

Maximum Holding Period : 2 -3 days

Time Required : 30 – 60 mins per day

Any Time Frame Lower

This are only for those advance traders. This traders are typically full time traders. Most of their trades are intra – day or scalps.

Maximum Holding Period : Less than 1 day

Time required : Lots of time

So base on my experience, this is what i can conclude if you ask me which time frame is the best. So by using this guide, i hope you can better understand yourself and get better result with this guide.

Also do check out our our FB closed group and get more of our trade ideas. Join us here https://www.facebook.com/groups/tradesnprofits/ to see our set up like below.